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GM strike impacts 150,000 auto industry workers -consulting firm

The prolonged strike at General Motors Co is estimated to have hit 150,000 workers in the auto industry, a report from research and consulting firm Anderson Economic Group (AEG) showed on Tuesday. The strike at the No.1 U.S. carmaker began on Sept. 16, with its 48,000 members of the United Auto Workers (UAW) union seeking higher pay, greater job security, a bigger share of the automaker’s profit and protection of healthcare benefits. About 75,000 employees of auto parts suppliers have either been temporarily laid off or have seen their wages shrink due to the slump in demand from …read more […]

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UPDATE 1-U.S. FDA approves Clinuvel Pharma's rare genetic disorder treatment

The U.S. Food and Drug Administration said on Tuesday it approved Australian drugmaker Clinuvel Pharmaceuticals Ltd’s treatment for a rare inherited disorder that results in skin damage from exposure to light. The treatment, Scenesse, is an under-the-skin implant that treats erythropoietic protoporphyria, a painful disorder that causes the skin to itch, burn, and scar in some rare cases, when exposed to sunlight and some types of artificial light. It is the company’s only approved treatment and brought in 25.8 million Australian dollars ($17.41 million) in 2018. …read more […]

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Where to Find Treats This Earnings Season

I’m a horror story fan.
I grew up reading The Shining, Geek Love, The Haunting of Hill House and everything by H.P. Lovecraft, Peter Straub, Dan Simmons, Ray Bradbury and the masters of the genre.
That’s why Halloween is one of my favorite holidays.
But beyond ghost stories and gory films, October also tends to be a scary month for investors.
The Crash of 1929 began in October… Black Monday was October 19, 1987… The minicrash of October 1989 was on Friday the 13th…
The markets endured another minicrash on October 27, 1997… October 2007 marked the beginning of the financial crisis…
And let’s not forget, …read more […]

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Yale’s Billion-Dollar Mistake?

The Yale endowment model has enjoyed massive success and inspired many copycats, but over the last decade, it has lagged the market.
Today, Nicholas Vardy explains why and what investors can learn from this investment strategy.

David Swensen, manager of the Yale endowment and the university’s chief investment officer, is smarting.
Yale recently announced that its endowment returned a paltry 5.7% over the past year. Yale’s results trailed those of its largest rivals, Harvard and Stanford – both of which returned 6.5%.
Not exactly eye-popping returns.
With the average billion-dollar-plus college endowment returning just 5.8%… It’s no wonder Bloomberg called this year’s crop of college …read more […]